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JPMorgan tops in muni funds despite outflows

Its Intermediate Tax Free Bond Fund outperforms most of its rivals

GETTING AHEAD JPMorgan's Intermediate fund has historically defeated its competition during volatile periods. It outperformed 75% of peers in 2007 and 82% in 2008, the first full year of the recession. - PHOTO: AFP

New York IN a record year for US municipal mutual fund withdrawals, the JPMorgan Intermediate Tax Free Bond Fund shrank more than 25 per cent. Yet it has still outpaced almost two-thirds of its peers. Investors yanked US$1.4 billion as at Nov 30, after it started the year with about US$5.3